GCMD: FEET becomes first fund to adopt the Singapore-Asia Taxonomy for Sustainable Finance
GCMD says FEET is the first fund to adopt the revised taxonomy, which recognises qualifying vessel retrofits and energy-efficiency technologies that deliver measurable greenhouse gas emissions reductions.
The Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (11 November) said the Fund for Energy Efficiency Technologies (FEET) has adopted the second edition of the Singapore-Asia Taxonomy for Sustainable Finance (SAT) to guide investment decisions, making FEET the first fund to adopt the SAT.
The revised SAT criteria recognise qualifying vessel retrofits and energy efficiency technologies (EET) installations that deliver measurable greenhouse gas emissions reductions.
The Singapore Sustainable Finance Association (SSFA), supported by the Monetary Authority of Singapore (MAS), announced the second edition of the SAT at COP31 in Türkiye. At the launch event, FEET’s adoption of the revised taxonomy was highlighted as an example of how transition taxonomies can inform capital allocation in hard-to-abate sectors, where emissions reductions often require incremental investments in existing assets.
Together, these developments reinforce the role of measurement, reporting and verification (MRV) to inform investment decisions in maritime decarbonisation, with the updated taxonomy providing a credible framework, and GCMD’s independently reviewed methodology specifying what evidence is needed and how to measure performance.
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